New labour codes, effective November 21, are projected to inject Rs 75,000 crore into consumption and boost the formal workforce by 15%. Social security coverage is expected to reach 85% within three years, potentially reducing unemployment by 1.3%. This reform aims to create a protected and productive labour market for both workers and businesses.New labour codes, effective November 21, are projected to inject Rs 75,000 crore into consumption and boost the formal workforce by 15%. Social security coverage is expected to reach 85% within three years, potentially reducing unemployment by 1.3%. This reform aims to create a protected and productive labour market for both workers and businesses.
